Monday, October 3, 2011

Goldmanite Being Pushed for Head of the Financial Stability Board

"I would hope that that would happen," Finance Minister Jim Flaherty told reporters when asked if Carney would replace Italy's Mario Draghi as chairman of the FSB, a body comprised of global financial regulators, reports Reuters.

Carney spent thirteen years with Goldman Sachs in its London, Tokyo, New York and Toronto offices. His positions included co-head of sovereign risk.

The FSB was established to coordinate at the international level the work of national financial authorities. It brings together national authorities responsible for financial stability in international financial centers, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts.

If Carney gets the FSB position, it would mean that Goldmanites control two of the most powerful global financial organizations. Carney at FSB and Mario Draghi as head of the European Central Bank.